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Intelligent Edge businessCNBC
•Technology
Technology
84% Informative
Elliott has taken an approximately $1.5 billion position in Hewlett Packard Enterprise .
HPE trades at less than 5 -times earnings before interest, taxes, depreciation and amortization, compared to its closest server peer Dell at over 7 -times EBITDA.
The primary driver of HPE 's undervaluation appears to be poor execution and a loss of credibility.
The $14 billion deal, originally announced in January 2024 , has been stalled.
The Department of Justice sued to block the acquisition, saying it would eliminate competition.
If the deal is blocked, HPE would have over 25% of its market cap in net cash.
But with the right oversight, it should be a win-win for shareholders.
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